No one is supposed to hide assets during a divorce, as the court requires the full disclosure of all the assets the couple owns at the beginning of the property division process. However, this has always been a potential risk because it’s something that people will still try to do.
Historically, hiding assets often meant moving money into someone else’s name or starting other savings accounts. Some people would even save physical cash by taking it out of the ATM. But a lot of these methods feel a bit outdated compared to a new tactic some people are using – hiding assets with cryptocurrency.
Does your spouse have any accounts?
Cryptocurrency is very complex and assets are transferred through networks all over the world. This can make it an ideal place for someone to attempt to hide assets, especially if they believe you don’t even know they opened those accounts. The first thing you want to do is simply consider whether or not your spouse may have these types of accounts and how to track them down.
One thing to keep in mind is that cryptocurrency accounts do usually have to be funded from somewhere. So you may see a bank withdrawal that transfers the money directly to a cryptocurrency wallet. But even this can be complicated because cryptocurrency itself can be transferred through multiple wallets and so the withdrawal may not be as obvious as you would assume on your bank statements.
What is for certain is that your spouse isn’t supposed to hide assets, and you definitely want to know about all of your legal options and the steps you can take to discover them.